Crestmark Closes Five Transactions Totaling More Than $5 Million in the Month of July

TROY, MICHIGAN (August 1, 2013) – Crestmark secured a total of $5,250,000 in financial solutions for five new clients during the month of July.

  • On July 1, a $750,000 ledgered line of credit facility was provided to New Jersey transportation company.
  • A $1,000,000 traditional factoring facility was provided on July 8 to an Ohio apparel wholesaler.
  • On July 25, a $250,000 traditional factoring facility was provided to a Texas apparel importer.
  • A $250,000 traditional factoring facility was provided on July 31 to a California furniture importer and distributor.
  • Also on July 31, a $3,000,000 asset-based lending facility with advances on accounts receivable and inventory was provided to an Ohio sign manufacturer.

Crestmark is a nationally known and respected FDIC-insured bank that provides innovative financial solutions for small- to medium-sized businesses. Financing solutions include asset-based lending, accounts receivable financing, lines of credit, factoring and equipment financing. Crestmark finances most business-to-business companies, and has extensive experience in helping many industries including transportation, manufacturing, staffing, petrochemical, government contractors, apparel and furniture manufacturing. Headquartered in Michigan, with locations in California, Florida, Louisiana, Tennessee, New York, and Illinois; representatives in Alabama, Maryland, North Carolina, and Texas.